Microba Life Sciences Limited establishes significant partnership with Sonic Healthcare Limited

Microba Life Sciences Limited (ASX: MAP) announced that Sonic Healthcare Limited has decided to buy a 19.99% interest in Microba, via the issue of new fully paid ordinary shares, at AU$0.26 per share and denoting a 25% premium to the 5-day VWAP of Microba shares, raising AU$17.8 million in new capital for the company. Also, Sonic is looking for buying options for a further 5% equity position, subject to shareholder approval. If exercised, Sonic would result in an additional investment of AU$7.5 million in Microba.

Both companies have also agreed to early binding terms for a strategic partnership, which allows Sonic Healthcare Limited and its affiliates to solely supply Microba’s microbiome testing products to its customers, comprising general practitioners and specialists, across Germany, Belgium, and the United Kingdom for a period of 1 year starting on 31 January 2023.

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